K Heitman & Co wrote:
> There have been good points made as to where to draw the line, but
> unless there is an acknowledgement by list members that a domain name
> is a licence, not property, there will be little communication. As
> Crown property, the .au domain space is subject to the Federal
> Government's assertion of ownership of every one of the .au names.

and

> There is no right to a secondary market for licences - ask Microsoft.
> While it has been argued that there is a secondary market for taxi
> licences or fishing licences, this varies from State to State at the
> whim of the Government.

Perhaps the land tenure system in the ACT is a better example.

>From www.actpla.act.gov.au/plandev/land_leasing/info:

"All land in Canberra, the nation's capital, is owned by the Commonwealth of
Australia.  ... Canberra does not have freehold ownership of land. Instead,
there is a leasehold system. You buy the right to use lease land for a term
usually 99 years. In every practical way, though, you build your house and
own it just as you would anywhere else in Australia. Prospective buyers of
homes and of house and land packages should feel secure in their investment
and happy with their land tenure."

"What is a lease?  A lease is a document that is a legally binding agreement
between the Government and you - the lessee. It is a written document that
sets out the rights and obligations of lessees and states the purpose for
which the land can be used."

There is a vibrant and well developed secondary market in leases.

Ian Johnston